How did the Securities Exchange Act of 1934 affect the stock market?
Could you elaborate on the significant implications the Securities Exchange Act of 1934 had on the stock market? How did it reshape investor protections, regulate securities trading, and enhance transparency? Did it introduce measures to prevent fraud and manipulation, thus fostering a more stable and reliable market? Also, how did the Act influence the role of broker-dealers and the Self-Regulatory Organizations in ensuring compliance and overseeing the market? I'm curious to understand the broader implications and long-term effects it had on the stock market landscape.